ACMA said the non-compliance put thousands of its customers – including more than 7000 interactions by those in "vulnerable circumstances" – at risk of real harm.
The telecommunications giant failed to follow the rules 168,000 times from August 2022 to April 2023, according to the Australian Communications and Media Authority, potentially opening up customers to so-called SIM-swap scams and other fraud.
New rules introduced in 2022 required multi-factor ID authentication, such as a one-time code, to combat the risk for moves with the potential to compromise a customer's account. "When the ACMA made these rules in mid-2022 we identified that victims of mobile fraud lose $28,000 on average," she said.
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